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Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
 Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dry Index (BDI) to plunge by almost 30% in a month, ending the week at 2,694 points, down 90 on a daily basis. The index had rallied at more than 4,000 points just a few weeks, sparking renewed investment interest by ship owners. But, as most have realized by now, volatility will remain the norm for the market as the year progresses, with the so called “China factor” proving to be even more crucial for the market’s behavior.
According to Weberseas’ latest weekly report, “the expected mid-summer correction continued this week, affecting all sizes, but in particular the larger sizes with the capesize and panamax. However not to forget that China and Taiwan were on holiday from Monday to Wednesday this week made matters worse. On the other hand, positive news are coming from China where the country's net coal imports are expected to reach a huge 170 million tonnes this year. The same figure for 2009 was 103 million tonnes so this year we could see a jump in coal imports by as much as 65%. And why is this important news? Simply because China's energy consumption comes mostly from coal - in 2009 alone coal accounted for nearly 70% of the country's total energy consumption. Thus, coal movements into China will increase and this will be reflected in freight rates” said Weberseas.
Reflecting on Chinese economy and more interestingly for dry bulk ship owners on the steel industry, Commodore Research issued its monthly report on the subject, saying that “Chinese crude steel production set another new monthly record in May - but fears of an impending economic slowdown coming to China persist. China produced 56.17 million tons of crude steel in May, an increase of 770,000 tons (1%) from the previous monthly record of 55.4mt produced in April. Despite another month of record setting crude steel production, many market observers continue to expect that rapid economic growth in China will soon decrease.
Concerns are flooding the financial and shipping markets that recent government policies aimed at restricting bank lending and slowing the swift rise in real estate prices will drastically reduce economic growth in China. We believe that these fears are valid but anticipate Chinese economic growth will maintain robustness for the foreseeable future, even if lending moderates and real estate prices become less robust. Any decline in growth is expected to be small, and moderate lending and firm industrial demand and consumer spending are expected to continue. We do believe, however, that Chinese steel output will decrease in the short-term from an extremely robust level of current production” said the report.
It went on to state that Chinese steel prices remain under pressure and steel mills have begun to announce short-term production cuts and “maintenance” that will slow some blast furnaces. “Chinese steel stockpiles have decreased from a month ago, though, with stockpiles of flat and construction steel products now totaling about 15.2 million tons, a decrease of 300,000 tons (-2%). Current stockpiles are 3.38mt (-18%) lower than the record 18.58mt of steel stockpiled in the beginning of March. Chinese steel output is therefore still expected to remain strong even though output is likely to decline this month as steel producers react to falling prices. Chinese steel exports continue to reach monthly volumes not seen since 2008. China exported 4.94 million tons of steel in May, an increase of 630,000 tons (15%) from the 4.31mt exported in April. In the first five months of 2010, Chinese steel exports have averaged 3.59mt per month, an increase of 1.54mt (75%) from 2009‘s monthly average of 2.05mt. A steady increase in global steel demand continues to contribute to robust Chinese steel production” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
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- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
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